APAC HOME WI-FI SECURITY SOLUTIONS MARKET ANALYSIS

Asia Pacific Home Wi-Fi Security Solutions Market size was valued at US$ 14.05 Bn in 2022, exhibiting a compound annual growth rate (CAGR) of 9.0% from 2023 to 2030.

Wi-Fi networks have become one of the most commonly used solutions for the households to access the internet over the shared network of devices. These networks are referred to as home wi-fi solutions. Although these wi-fi systems make it easy for the users to connect their devices like laptops, smartphones and tablets to the home network, they are also prone to external security threats like hacking, malware attacks, etc. These threats could expose the sensitive and private data stored in the devices connected to the network to the hackers and also lead to unwanted devices connecting to the network and slowing down the speed of data transmission. The growth of digital services consumed in the households the market for home wi-fi systems is expected to grow and furthermore, the growing concern regarding the security of personal data, these factors would drive the growth of market for home wifi security solutions.

As the population in the Asia Pacific region continues to grow the size of families would increase. This would in-turn increase the number of devices owned by a family which would lead to the growth in demand for wifi solutions. As the number of wifi solutions would increase in the region, the possibilities of malware attacks and hacking attempts leading to the increase in security threats would naturally increase. This would drive the market for home wi-fi security solutions even further. The need for having network security systems in place is growing gradually as the households are becoming more aware about the privacy threats and the importance of maintaining sensitive data.

 Asia Pacific Home Wi-Fi Security Solutions Market- Country Analysis

China leads the market for Asia Pacific Home Wi-Fi Security solutions as of 2022. The huge population, increasing requirement for data, growing data networks and increasing demand for security solutions as a result of data privacy concerns is the primary reason for growth of the market in the country. The presence of strong infrastructure of wifi network systems gives the region an added advantage to expand the home wifi security solutions market during the forecast period.

India is expected to be another big market for the Asia Pacific Home wifi security solutions. With the factors like increasing adoption of technology, digitalization of processes, increasing penetration of internet, etc. would help the market for home wifi solutions to expand. Moreover, the emergence of concepts such as remote working in the IT sector and the growing influence of online learning in the country, which is characterized by the extensive presence of students and young adults facing growing requirement for data services, the wifi solutions market has a huge scalability. This would lay the groundwork for the home wifi security solutions market in India. As the adoption to these wifi solutions increase and people get more aware and concerned regarding the security and privacy of data, the market for home wifi security solutions would significantly grow in the country during the forecast period.

Japan is expected to show a significant growing trend when it comes to the Asia Pacific Home Wi-Fi Security Solutions Market. Owing to factors like well-established IoT infrastructure, increasing adoption of technology and growing need for data services, the market has a strong foundation to grow upon. Moreover, the awareness regarding security of private data is high among the population which would fuel the growth of home wifi security solutions in the country.

Figure 1. Asia Pacific Home Wi-Fi Security Solutions Market Share (%), By Country, 2021

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Asia Pacific Home Wi-Fi Security Solutions Market- Segmentation

The Asia Pacific Home Wi-Fi Security Solutions Market is classified in following segments; By Component and By Home Network Architecture

Figure 2. Asia Pacific Home Wi-Fi Security Solutions Market Share (%), By Component (US$ Mn) Analysis and Forecast,

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Asia Pacific Home Wi-Fi Security Solutions Market was valued at US$ 14.05 Billion in 2022 and is expected to reach US$ 27.92 Billion by 2030, exhibiting a CAGR of 9.0% between 2023 and 2030.

Global Asia Pacific Home Wi-Fi Security Solutions Market- Key Competitors

Major players operating in the asia pacific home wifi security solutions market include Cujo LLC, KoalaSafe Inc., and Systems Solutions & Development Technologies Ltd. (SSD-Tech), Cisco System Inc., Panasonic Corporation, Luma Home Inc., Aruba Networks, Inc., Securifi, Keezel Inc., and others

Global Asia Pacific Home Wi-Fi Security Solutions Market- Recent Developments

1. In April 2023, Cisco Systems, an America based digital communications management company, through its investigation wing ‘Talos’ warned the UK government regarding the possibility of highly sophisticated attacks on network infrastructure in the country. These attacks can target individual as well as commercial networks and pose a threat to the sensitive data within the systems.
2. Key players in the market are focused on collaborations and partnerships, in order to gain competitive edge in the market. For instance, in February 2019, Cujo LLC, a provider of network security, collaborated with AirTies to provide cybersecurity and smart Wi-Fi solutions to network operators.
3. In 2020, Aruba Network, a key market player in wifi security solutions market, announced the launch of its state-of-the-art network security solution, ‘Aruba 500 H’. The device provides high performance wired and wireless monitoring of network and helps the users to keep the system safe from unwanted access.
4. In September 2022, Robert Bosch GmbH, a multinational engineering and technology company, launched a new electric drive for light commercial vehicles.

Asia Pacific Home Wi-Fi Security Solutions Market- Drivers:

Increasing use of smart devices and growing internet penetration:

The use of smart devices like mobile phones, laptops, tablets, etc. is growing continuously from the past few decades. The increase in scope and application of technology in various fields in almost all walks of life is driving the market for these devices. Moreover, the rise in internet penetration even in remote parts of the developing countries in the Asia Pacific region is the testimony to the fact that the requirement for data services is also rising. These factors would in-turn boost the market growth of home wifi security solutions in the Asia Pacific region. For instance, according to the news article published by ‘The Hindu’, Over 50% Indians have entered the category of active internet users. Moreover, the user base is expected to grow to a staggering number of 900 million users by 2025. This shows the growing demand for network services in the country which lays the foundation for home wifi security solutions to capitalize on and expand the market during the forecast period.

Availability of lucrative policies offered by wireless network service providers:

The demand for high speed data transmission has been growing not only in the commercial field but also in the households. The increasing digitalization of processes in daily life have made it necessary for the households to have access to high speed internet. Moreover, the lowering prices of data in the home wifi plans is acting as a he driver for the growth in the market. The advantage of stable internet connection, ability to connect multiple devices, low cost, etc. is driving the growth engine of wifi solutions in the Asia Pacific market. For instance, according to the news reported in November 2022, by Hindustan Times’ Tech wing, the rivalry between two of the biggest telcom players in the Indian market; Airtel and Jio in the wifi network market is leading to the price war in the segment. The Jio Fiber and Airtel Xstream are two of the leading high-speed internet solutions for households and the competitive rivalry between them is resulting in lowering of the data plans for the respective products.

Asia Pacific Home Wi-Fi Security Solutions Market- Restraint

Poor Wi-Fi network infrastructure of local players:

The wifi network market in the Asia Pacific region is majorly characterized by presence of low end internet service providers (ISPs). These service providers are decentralized and usually cater to a limited area. They reach the customers through various connectivity options like cables and optic fibres. Their infrastructure is generally not managed efficiently and there exist a lot of interruptions in the network. For instance, in an article published by Bloomberg, in June 2022, around 92% of India faces the issue of poor network connectivity. This is a huge number for a market like India and the role of local network providers becomes crucial in developing the infrastructure from the ground-level. This structural problem in the network system can potentially hamper the growth prospects of the home wi-fi security solutions market.

Lack of awareness about wireless network systems:

The demand for high speed internet and its penetration is growing day by day in the region of Asia Pacific. This growing demand is visible in the statistics showing the growth in active internet users. But, this growth would be least beneficial for the home wifi security solutions market if the users are not aware about these wireless network systems. The reliance on telcom operators and traditional way of accessing the internet means that the consumers are not aware about the cost-effective and efficient solutions of wifi networks. For instance, according to the article published in Telecompaper in May 2023, the lack of awareness regarding the wifi solutions like optic fibre connections is limited to around 50% population. This shows that the degree of awareness regarding wifi solutions among the general public is significantly lower even in this technologically inclined era. This could act as a huge factor with a potential to hinder the growth prospects of the home wifi security solutions in the Asia Pacific market.

Asia Pacific Home Wi-Fi Security Solutions Market- Opportunity

Increased awareness regarding cybersecurity and associated threats among the general public:

The home wifi security solutions market depends majorly on how the households perceive the threat of security and privacy of their wifi networks and the relative importance of the data stored in the devices connected to the network. Hence, the awareness regarding the possible network security threats like hacking attempts, unwanted access, loss of sensitive data, etc. The growing concern regarding the data privacy issues in recent times would naturally increase the demand for home wifi security solutions. For instance, in December 2022, Indian Government launched ‘Stay Safe Online’ campaign to raise cybersecurity awareness. This program was launched as per the norms under India’s presidency in G20 summit. The program aims at raising awareness amongst the citizens regarding the ways of maintaining safe practices as the use of social media platforms and digital transactions increase significantly. 

Asia Pacific Home Wi-Fi Security Solutions Market- Impact of COVID-19:

The covid-19 pandemic disrupted the business world because of the factors like country-wide lockdowns, temporary shutdown of majority of the industries, stringent social distancing norms, etc. The effect of the pandemic on the supply side of the home wifi security solutions system was significant. The major segment of this market is the hardware segment which includes the manufacturing and sales of components and devices like routers and modems used in the security solutions. These electronic components are majorly manufactured in China, where the impact of covid-19 pandemic was immense. The supply of these components was temporarily disrupted completely. This led to the scarcity of these components in the market bringing down the revenues of the firms operating in the market.

*Definition: Home Wi-Fi Security Solutions is a system that prevents unauthorized access that has the potential to damage the connected devices that are using the wireless network. These security solutions include security devices and systems that safeguard the connected devices from several virtual interruptions like malware attacks, hacking attempts, viruses, etc.